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Dec 6, 2012
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we go over the fiscal cliff small business owners could see the tax rates rise to over 50 percent. >> it is eye popping isn't it. pray congress makes a deal to avoid going over the fiscal cliff. high income workers there will get more than 50 percent. it targets income brackets. state taxes went up. they are now higher than both new york city as well as hawaii. >> when it comes to jobs being added different numbers, 118,000. >> this is the first week of the month we get a lot of jobs data. storm event coming in when i say storm literally we will see the effects of super storm sandy. private job creation says businesses added 118,000 jobs in november. if it were not for sandy that number would have been north of 200,000. adt may have a stronger jobs report that's the big one economists look at. we expect 93,000 nonfarm jobs have been created last month. the numbers are weak and they suggest it's not just a storm but it is worried about the fiscal cliff holding businesses back from hiring. >> business owners and other people on e-mail which is most of us. when you are reading the e-mail
we go over the fiscal cliff small business owners could see the tax rates rise to over 50 percent. >> it is eye popping isn't it. pray congress makes a deal to avoid going over the fiscal cliff. high income workers there will get more than 50 percent. it targets income brackets. state taxes went up. they are now higher than both new york city as well as hawaii. >> when it comes to jobs being added different numbers, 118,000. >> this is the first week of the month we get a lot...
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Dec 3, 2012
12/12
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will entitlement be changed on this side of the fiscal cliff? >> two things in response to that. first, the great irony here is four weeks ago, mitt romney and paul ryan and republicans are pummeling the president for $716 billion for medicare savings that extended the life of medicare. they said they want to add all the costs back in. hopefully they are back to the position of the ryan budget to recognize they're important savings. number one. number two, the president's plan, budget, contains medicare savings than the ryan-republican plan did. we'd like to see the specifics, what are they proposing with respect to cuts to medicare? >> we can go around the healthcare barnyard again and again, about how you can't spend that money twice. and how medicare actuary said that. the $716 billion. you can either use it to shore up medicare or use it to pay for obamacare. >> right. right. but the fact is the position that mitt romney took as a presidential candidate was to put all of those costs back in to medicare. which would have meant it went insolvent eight years sooner. >> bret: but
will entitlement be changed on this side of the fiscal cliff? >> two things in response to that. first, the great irony here is four weeks ago, mitt romney and paul ryan and republicans are pummeling the president for $716 billion for medicare savings that extended the life of medicare. they said they want to add all the costs back in. hopefully they are back to the position of the ryan budget to recognize they're important savings. number one. number two, the president's plan, budget,...
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Dec 6, 2012
12/12
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in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and looking them up. i understand that the french don't have a word for entrepreneur or laissez faire. [ laughter ] >> because they never use it. >> they never use it. economics is all about incentives. if you tax people who work, you pay people who don't work, don't be surprised if you find a lot of people not working. it's the rich issue here, which is just fascinating to me. if you tax rich people and give the money to poor people, you're going to get lots and lots of poor people and very few rich people. just look at what happened in britain two years ago when gordon brown raise
in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and...
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Nov 29, 2012
11/12
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they can staunch the bleeding from falling off the fiscal cliff if that happens. >> bret: ed, the former presidential candidate mitt romney was at the white house today. >> it's relatively brief. we had lunch with turkey chili and not business. president did have a specific job offer or anything for mitt romney. after the white house put out a statement to say they pledge to keep in touch if the opportunity arises down the road that sounded like not so much. >> bret: did biden bring by the apple pie? >> they may save that for a celebration if hay get a deal. >> all right, ed. thank you. >> major retailers are reporting weaker than expected holiday sales so far. november receipts are 1.7% over last year. that is well below the 4.5 to 5.5 predicted for holiday season. the economy grew at 2.7% in the third quarter better than the figure announced. the dow was up 37. the s&p 500 gained six. nasdaq finished ahead 20. syrian rebels struck a major blow in the heart of the government today killing a top ruling of the party in a car bombing and someone is cutting off internet and cell phone commu
they can staunch the bleeding from falling off the fiscal cliff if that happens. >> bret: ed, the former presidential candidate mitt romney was at the white house today. >> it's relatively brief. we had lunch with turkey chili and not business. president did have a specific job offer or anything for mitt romney. after the white house put out a statement to say they pledge to keep in touch if the opportunity arises down the road that sounded like not so much. >> bret: did biden...
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Dec 6, 2012
12/12
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let me play it. >> if there is no agreement, then the fiscal cliff has to be dealt with. i didn't see it if they decent this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we can have an agreement. >> what do you make of the way she put it? it's not a threat. she said, listen, these are the facts. >> nice little economy you have there. nice little economy you have there. it would be a shame it if anything happened to it. that's not a threat. look, we have to start looking at what happens if we do, in fact, go over the so-called cliff, and what happens is, you know, one thing is we take a huge bite out of the deficit. we do it in a crude may, and there would be immediate attempts to fix it and fine-tune it and take some back. some would probably get through. if you actually want to look at it from a policy standpoint, it may not be the worst possible option to just go over the cliff and then put back in the tax cuts and the spending increases or renewals that you'd like to put ba
let me play it. >> if there is no agreement, then the fiscal cliff has to be dealt with. i didn't see it if they decent this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we can have an agreement. >> what do you make of the way she put it? it's not a threat. she said, listen, these are the facts. >> nice little economy you have there. nice little economy you have there. it would be...
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Dec 4, 2012
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. >> the white house rejects a republican counter plan to avoid that "fiscal cliff." >> rates have to rise and the republicans need to acknowledge that. that's the only way to get from here to there. >> from across the bay to around the world -- >> obviously, you know, we want a family, so, uhm, you know, we have to start thinking about that. >> -- the stories that matter on "eyewitness news this morning." >> your realtime captioner: linda marie macdonald captions by: caption colorado comments@captioncolorado.com >>> good morning, it's tuesday, december 4. i'm michelle griego. >> hi, everyone. i'm frank mallicoat. it is 6:32. a huge pot bust at a home in east san jose. this morning neighbors reported a burglary happening at a home on the 1300 block of sandalwood court. when police got there they found the front door open. they entered the home and discovered an elaborate grow house there. we have live pictures of the house here. in fact, officers say there was no furniture inside the home at all just about 300 pot plants with a street value of $125,000. and because of all the chemical
. >> the white house rejects a republican counter plan to avoid that "fiscal cliff." >> rates have to rise and the republicans need to acknowledge that. that's the only way to get from here to there. >> from across the bay to around the world -- >> obviously, you know, we want a family, so, uhm, you know, we have to start thinking about that. >> -- the stories that matter on "eyewitness news this morning." >> your realtime captioner: linda...
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Dec 7, 2012
12/12
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we expect add big impact from the fiscal cliff and the labor department said no, we did not but labor participation rate, look at this ugly chart the it is declining. we have the rate drop again in large part because the labor force fell by 350,000. we are watching that carefully because you want to see people work. and try to get jobs. it is critical. >>shepard: what impact did super storm sandy? >>gerri: not so much. however, there were a million people that were working part time rather than full time and that is ascribed to hurricane sandy. normally you do not expect that. >>shepard: the matters went, so what. >>gerri: well, they saw that the 350,000 number and they thought they didn't like that and the market pulled back a little. we have had back-and-forth situation on that, starting off 74 up on the dow and now we are down. >>shepard: better than negative. >>gerri: better than negative. >>shepard: millions of american jobs potentially on the line if lawmakers do not get their act together. house of representatives speaker boehner says there is in progress in talks to avoid the
we expect add big impact from the fiscal cliff and the labor department said no, we did not but labor participation rate, look at this ugly chart the it is declining. we have the rate drop again in large part because the labor force fell by 350,000. we are watching that carefully because you want to see people work. and try to get jobs. it is critical. >>shepard: what impact did super storm sandy? >>gerri: not so much. however, there were a million people that were working part time...
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Dec 4, 2012
12/12
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we'll go back to the fiscal cliff. if high end tax rates are successful entrepreneurs rocket higher, you can bet the number of millionaires in this country is going south. that's if high taxes go up. millionaires go down. that's no good. in our land of opportunity, i want more millionaires. and i think the better for them and the economy. robert frank will join us with some very arresting numbers. high tax, fewer millionaires. not good. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> 28 days until the country plummets off the tax and fiscal cliff. big tax hikes could be coming for everyone but we see als
we'll go back to the fiscal cliff. if high end tax rates are successful entrepreneurs rocket higher, you can bet the number of millionaires in this country is going south. that's if high taxes go up. millionaires go down. that's no good. in our land of opportunity, i want more millionaires. and i think the better for them and the economy. robert frank will join us with some very arresting numbers. high tax, fewer millionaires. not good. two years ago, the people of bp made a commitment to the...
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Dec 1, 2012
12/12
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CNNW
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let's hope we don't go over that fiscal cliff. >> fingers crossed they will reach a compromise. i don't think there's anyone out there that wants to see us go over that fiscal cliff. >> that would be bad. but the clock is ticking. only a few weeks left. >>> the biggest problem between the united states and mexico and how to solve it. i'll speak with mexico's new president. my exclusive interview is just ahead. this line is a convenienc. how you doing today? i'm good thanks. how are you? i'm good. [ gordon ] but for others, it's all they can afford. every day nearly nine million older americans don't have enough to eat. anything else? no, not today. join me, aarp, and aarp foundation in the drive to end hunger by visiting drivetoendhunger.org. i tell them dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can grow and multiply. polident is specifically designed to clean dentures daily. its unique micro-clean formula kills 99.9% of odor causing bacteria and helps dissolve stains, cleaning in a better way than brushing
let's hope we don't go over that fiscal cliff. >> fingers crossed they will reach a compromise. i don't think there's anyone out there that wants to see us go over that fiscal cliff. >> that would be bad. but the clock is ticking. only a few weeks left. >>> the biggest problem between the united states and mexico and how to solve it. i'll speak with mexico's new president. my exclusive interview is just ahead. this line is a convenienc. how you doing today? i'm good thanks....
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Dec 1, 2012
12/12
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fiscal cliff? guest: if we go off the cliff, the rate will go up to 39.6%. the low bracket will go away and the lowest tax bracket will be 15% if we go off the cliff. 15% to 39.6% if we go off the cliff. caller: what about the other rates? host: we have a question on twitter. host: we have a question on twitter. guest: you don't pay taxes on losses. if you're making profits and a picture up over $250,000, that could result in a tax increase that kicks you over $250,000. caller: we need jobs in this country. i hear all this money being talked. the average worker -- i am lucky i get 30 hours. they're cutting down to 20 hours at wal-mart. i had a good manager. thank god. i notice a woman comes in. she is a high-end lady. she says we can get anybody to work. you talk about the tax credits. most of us have no chance of getting anything like that. we only make enough money to survive. a lot of us get food stamps. i never thought in my life. this is too low republicans and democrats. fascism and communism
fiscal cliff? guest: if we go off the cliff, the rate will go up to 39.6%. the low bracket will go away and the lowest tax bracket will be 15% if we go off the cliff. 15% to 39.6% if we go off the cliff. caller: what about the other rates? host: we have a question on twitter. host: we have a question on twitter. guest: you don't pay taxes on losses. if you're making profits and a picture up over $250,000, that could result in a tax increase that kicks you over $250,000. caller: we need jobs in...
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Dec 6, 2012
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the top senate democrats said they won't consider proposals to saw void the so-called fiscal cliff. not until the gop agrees that tax rates will go up on the wealthiest of americans. they said it from the beginning. president obama visited a family in virginia to layout his case. the white house says it is one of thousands of middle class families facing higher taxes if congress doesn't reach some sort of deal. house speaker insists the republicans will not go along with a higher tax rate for anybody, but an incrowsing number of republicans -- an increasing number of republicans are saying they will have to give in to democrats' demands. you know i read a number of websites that said republicans have waived the white flag on some issues, but not all of them. assuring republicans they don't have to vote for a tax increase. >> and it technically may be correct, but not many are buying this new strategy from the white house since the tax cuts from the middle class and those from the top 2% are both set to expire at the end of the year. the white house says congress really only has to e
the top senate democrats said they won't consider proposals to saw void the so-called fiscal cliff. not until the gop agrees that tax rates will go up on the wealthiest of americans. they said it from the beginning. president obama visited a family in virginia to layout his case. the white house says it is one of thousands of middle class families facing higher taxes if congress doesn't reach some sort of deal. house speaker insists the republicans will not go along with a higher tax rate for...
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Dec 6, 2012
12/12
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WUSA
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hikes for top income earners. >> is the administration prepared to go over the fiscal cliff? >> absolutely. there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. it's only 2%. >> reporter: republicans insist they can get the revenue from reforming the tax code without increasing tax rates. >> the revenues put on the table are going to come from guess who? the rich. >> reporter: but the president says that won't work. >> it is not possible for us to raise the apartment
hikes for top income earners. >> is the administration prepared to go over the fiscal cliff? >> absolutely. there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. it's only 2%. >> reporter: republicans insist they can get the revenue from reforming the tax code without increasing tax rates. >> the revenues put on the table are going to come from guess who? the rich. >> reporter: but the president...
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Nov 30, 2012
11/12
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there is the fiscal cliff to consider. >>> now let's turn to japan. the jobless rate in october remained flat compared to the previous month. the internal affairs ministry said unemployment stayed at 4 4.2%. officials at the labor ministry say the ratio of job vacancies to seekers declined. it says 80 positions were open for every 100 job seekers. the industrial output posted an increase in october for the first time in four months. the index stood at 88.1 against a reference value of 1205. this was due to increases in the electronic parts and devices industry as well add the fabricated metal sector. now let's get a check on markets. japanese prices are trading in a modest range. the nikkei is at 9,427. investors are placing buy orders after the dow jones industrial average recovered to the 13,000 level. there's some profit taking here in tokyo following the recent events. let's take a look at the currency markets. the dollar is trading in a narrow range this friday morning. market sources say traders are refraining from aggressive moves as they wait
there is the fiscal cliff to consider. >>> now let's turn to japan. the jobless rate in october remained flat compared to the previous month. the internal affairs ministry said unemployment stayed at 4 4.2%. officials at the labor ministry say the ratio of job vacancies to seekers declined. it says 80 positions were open for every 100 job seekers. the industrial output posted an increase in october for the first time in four months. the index stood at 88.1 against a reference value of...
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Dec 4, 2012
12/12
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you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why are we doing it in 29 days? >> but the president ran on >> the republicans must agree to higher tax rates on well off americans. all the way to the 39.6 that the president, they have to. that's the ticket for admission because the president won the election and campaigned on that. the democrats are going to have to agree. they'll use euphemisms, but agree to cutting medicare and medicaid. and by the way, that means cutting for seniors and poor people and special needs kids. that is not an easy thing to ask anybody to do, let alone the democratic party. which really created these programs. this is
you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why...
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cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it's worthwhile to go over the cliff, it's not the case. it is, without a doubt, a cliff. it's $600 billion. the economy cannot withstand that shock. it's slowing in anticipation. lou: $6 billion in taxes? >> spending reductions and tax increases. the economy can't handle that. without a doubt, head into recession if we're over the cliff. lou: now, are you in agreement? >> i am, carl's absolely right, nevertheless, the markets have effectively been yawning. equity markets, go higher, corporate credit market improves, commodit prices rising, and the ten-year treasury yield is dipping to new lows. i can't figure this out. everybody seems to -- lou: i know -- >> they are in a mood, and that worries me. somebody has to be wrong, and big tim
cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it's worthwhile to go over the cliff, it's not the case. it is, without a doubt, a cliff. it's $600 billion. the economy cannot withstand that shock. it's slowing in anticipation. lou: $6 billion...
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Dec 6, 2012
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. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest members. only 2%. the size of the problem in some sense is so large it can't be solved without rates going up. again, there is broad recognition of that reality now. >> one fallback option, republicans are reportedly considering to accept tax cuts for the middle class, allow rates to go up to the wealthiest and then start the fight all over again during debt limit talks early next year. yesterday at a business roundtable of ceos, president obama took a hard line warning opponents not to consider the strategy. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> senator tom coburn yesterday on "morning joe" became the latest to br
. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest members. only 2%. the size of the problem in some sense is so large it can't be solved without rates going up. again, there is broad recognition of that reality now. >> one fallback option, republicans are reportedly considering to accept tax cuts...
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Dec 3, 2012
12/12
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you guys are willing to go off the fiscal cliff? >> it republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a the a time when the american economy was doing exceptionally well, then there will not be an agreement. >> while geithner was drawing a line in the sand, house speaker john boehner was busy trying to lift his jaw off the flar after geithner presented the president's debt reduction plans to him last week. >> i was just flabbergasted. i looked at him and said you can't be serious. i have just never seen anything like it. >> yes, indeed, it seems that republicans are not quite sure what to make of the president taking a harder line across the bargaining table. >> you know, the president's idea of a negotiation is roll over and do what i ask. >> i think we're going over the cliff. it's pretty clear to me they made a political calculation. the president's plan is just, quite frankly, a joke. >> i'm not sure about that, senator graham, but there will be plenty of time for jok
you guys are willing to go off the fiscal cliff? >> it republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a the a time when the american economy was doing exceptionally well, then there will not be an agreement. >> while geithner was drawing a line in the sand, house speaker john boehner was busy trying to lift his jaw off the flar after geithner presented the president's debt reduction plans to him last week. >> i was...
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Dec 6, 2012
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cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. all those americans, too, get a tax cut on the first $250,000 of their income. so, in some sense it's a tax cut for all americans. >> reporter: bottom line, anderson, we're talking today but still at stalemate. >> yeah, i mean, it's a sign, jessica and dana, of just how lack -- how little progress there's been that a phone call is big news between these two. dana, we're also hearing hints of some move between republicans, coburn, olympia snowe. what are you hearing? how significant is it? >> reporter: it's significant for a couple reasons. you're right. three republicans in different ways suggested they would be okay with what most republicans are saying, that they're not okay with, which is raising tax rates for the wealthiest. tom is
cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. all those americans, too, get a tax cut on the first $250,000 of their income. so, in some sense it's a tax cut for all americans. >> reporter: bottom line, anderson, we're...
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Dec 7, 2012
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that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the president got the tax rate hike he wanted understand we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has got a spending problem, not a re-knew problem. >> for many top democrats it's all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome o
that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that...
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fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game. because we have to break that habit before it starts. >> bret: what about that? >> well, the president had as many red lines for iran as for house republicans. i think what kirsten said is absolutely remarkable. it is about the scalp. it's about the president having made a campaign argument for the better part of 2012. so that he could run a class warfare campaign. now having to make good on that with the base of his party. the u.s. economy be damned. the republicans offered to give so much and offering precisely what erskine bowles laid out as a compromise position in
fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game....
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cliff unless the republicans accept higher tax rates on the healthy. and the southern philippines struggled to recover from a typhoon that killed nearly 300 people. and what does a day in the life of public buses, trains and subways look like? the answer is part of our science roundup online. hari sreenivasan has the details. >> sreenivasan: the image resembles a lite-bright time lapse. find those pictures and our conversation with a software developer who set out to visualize the 24-hour cycle of urban public transit systems. that's on our homepage. an international telecommunications conference in dubai aims to set new rules for the internet. what's at stake? we take a look in the rundown. and on making sense, economics correspondent paul solman argues both sides of the capital gains tax debate. all that and more is on our website newshour.pbs.org. judy? >> woodruff: and that's the "newshour" for tonight. i'm judy woodruff. >> ifill: and i'm gwen ifill. we'll see you online and again here tomorrow evening. thank you and good night. major funding for
cliff unless the republicans accept higher tax rates on the healthy. and the southern philippines struggled to recover from a typhoon that killed nearly 300 people. and what does a day in the life of public buses, trains and subways look like? the answer is part of our science roundup online. hari sreenivasan has the details. >> sreenivasan: the image resembles a lite-bright time lapse. find those pictures and our conversation with a software developer who set out to visualize the 24-hour...
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fiscal cliff as a three-part problem. part one taxes. in the new year, taxes go up on everyone unless washington takes action. the government needs more money. president obama wants to get some of it from the top 2% of wage earners. he wants to raise their tax rate and limit how much they can deduct. the white house says this will bring in $1.6 trillion over ten years. >> that's what the american people have voted for. >> republicans say they'll agree to bring in more money, but not by raising tax rates. in fact, they want to lower tax rates for everyone. instead they'd raise money only by limits deductions and closing loopholes. speaker boehner says this will raise $800 billion over ten years. >> america faces a serious problem. our goal is to make sure it gets solved. >> step two, avoiding the drastic spending cuts that begin on january 1st, the so-called sequester. both sides want to find savings in medicare, but disagree about how to do it. >> we need a responsible white house. we can't sit here and negotiate with our
fiscal cliff as a three-part problem. part one taxes. in the new year, taxes go up on everyone unless washington takes action. the government needs more money. president obama wants to get some of it from the top 2% of wage earners. he wants to raise their tax rate and limit how much they can deduct. the white house says this will bring in $1.6 trillion over ten years. >> that's what the american people have voted for. >> republicans say they'll agree to bring in more money, but not...
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the so-called fiscal cliff is really all about the obama ultimate may tum. >> i'm not going to sign a package that somehow prevents the top rates from going up for folks at the top 2%. lou: president's ultimatum and his insistence on higher taxes may take us over the cliff. chris and steven next. the next scott walker? michigan's republican governor ready to do plitical battle with organized labor in his state. what about a right to work law? straight ahead. [beep] [indistinct chatter] [kids talking at once] [speaking reign language] [heart beating] [heartbeat continues] [faint singing] [heartbeat, music playing louder] ♪ i'm feeling better since you know me ♪ ♪ i was a lonely soul, but that's the old me... ♪ announcer: this song was created with heartbeats of children in need. find out how it can help frontline health workers bring hope to millions of children at everybeatmatters.org. lou: the staffs of both president obama and house speaker boehner are talking, but there is still no word of progress on the so-called fiscal cliff or the president's ultimatum. silence indicate
the so-called fiscal cliff is really all about the obama ultimate may tum. >> i'm not going to sign a package that somehow prevents the top rates from going up for folks at the top 2%. lou: president's ultimatum and his insistence on higher taxes may take us over the cliff. chris and steven next. the next scott walker? michigan's republican governor ready to do plitical battle with organized labor in his state. what about a right to work law? straight ahead. [beep] [indistinct chatter]...
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. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting point? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are several democrats who have floated that for a while. the code word is we want to go back to the clinton tax rates and talk about the clinton economy that we had a much more vigorous economy and growth and we should go back to the clinton tax rates. what that really means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. i don't support that. i don't think that's a great idea. it would slow down the economy. >> when you look at economist's evaluations, it would slouw dow the economy. it would. there's no question about it. but if the problem is that we hav
. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting point? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are...
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you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why are we doing it in 29 days? >> but the president ran on raises taxes, right? if you look at the polls. 60% of people support raising taxes on people who make over $250,000 a year. how much of a problem is it, david, if the republicans you know, tom coburn said he does not want to raise that tax number. >> the president ran on his first term on opposing a health care mandate. presidents change their minds. the idea that you would do a revenue measure with an eye to basically doing something punitive, when there are much more important policy goals you can achieve and when it's not going to be good
you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why...
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if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the american dream is now being rewritten by president barack obama. now, today our commander-in-chief publicly said he's not going to play games with the fiscal cliff, but that is just not reality. right now the president is playing a very dangerous game of chicken and this is with your paycheck and the american dream. meanwhile, the republicans have allowed themselves to get caught in a circular firing squad. they're negotiating publicly among themselves while true conservatives and tea party members are being removed from key committees. today speaker john boehner adopted the president's class wawarfare rhetoric. shocking? watch this. >> we've got to cut spending, and i believe it's appropriate to put revenues on the table. now, the revenues we're putting on the table are going to come from, guess who, the ric
if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the american dream is now being rewritten by president barack obama. now, today our commander-in-chief publicly said he's not going to play games with the fiscal cliff, but that is just not reality. right now the...
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the so-called fiscal cliff is really all about the obama ultimate may tum. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. lou: president's ultimatum and his insistence on higher taxes may take us over the cliff. chris and steven next. the next scott walker? michigan's republican governor ready to do political battle with organized labor in his state. what about a right to work law? straight ahead. the boys use capital one venture miles for thr annual football trip. that's double miles you can actually use. tragically, their ddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. buwith the capital one venture card you get double miles you can actually use. [ cheering ] any flight, anytime. the scoreboard doesn't lie. what's in your wallet? hut! i have me on my fantasy team. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. a
the so-called fiscal cliff is really all about the obama ultimate may tum. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. lou: president's ultimatum and his insistence on higher taxes may take us over the cliff. chris and steven next. the next scott walker? michigan's republican governor ready to do political battle with organized labor in his state. what about a right to work law? straight ahead. the boys use capital one...